The organizer/member would define the initial splits of profits, losses, and capital for each member (they don't have to be equal) and the numbers can change as you or your partner contribute (time, money, management expertise, etc.) into the LLC.

I am trying to see if there are ways to contribute this income towards a tax sheltered account that I could use for real estate investment purposes.

But not a contribution.

It definitely allows us to contribute more of our earnings towards our future real estate portfolio

Just make sure everyone in the group has something to contribute -- while it may be good for brand new investors to mastermind with experienced investors, it's not particularly useful for the experienced investors...so keep your standards high for your mastermind groups and try to stick with an experienced core group of folks.

I just noticed Homepath.com is stating this under their financinghttp://www.homepath.com/financing.htmlHomePath financing, available only on Fannie Mae-owned properties, offers great benefits — low down payment, no mortgage insurance, expanded seller contributions, and more.

Great to see a new member with quite a bit of experience, I hope to see you contributing some of that knowledge and interacting on the forums and blogs!

The problem is, there are way too many other factors, besides just the number of guns on the street, that contribute to overall criminal activity and homicide.

I offered my past business partner that retired, to come out of retirement and become my CEO in exchange for 25% of my membership interest.He accepted and paid me $250.00 to be the contribution of the 25% of Membership Interest, since I paid $1000 for the 100% capital contribution when I started it.So, can I add him as a member on the Minutes?

For those who are wondering how I came up with 3 times and 2.5 times, the local Housing Authority (they administer the gov't housing voucher program) requires their tenants to contribute 30% of income toward the cost of housing (roughly one third, or the reciprocal of 3), and the housing authority allows up to 40% of income to go towards rent (that is exactly the reciprocal of 2.5).